Tesla and Panasonic Sign Non-Binding Letter of Intent

Tesla and Panasonic have signed a non-binding letter of intent to collaborate on the manufacture and production of photovoltaic cells and modules in SolarCity’s Buffalo, NY, facility.

The agreement is contingent on the closing of SolarCity acquisition by Tesla. The equipment that is produced will integrate with Tesla’s Powerwall and Powerpack to create an end-to-end solar-based platform. The products will be aimed at the residential, commercial and “grid-scale” market. The press release says that Tesla and Panasonic have an ongoing relationship which includes production of electric vehicle and and grid storage battery cells at Tesla’s Gigafactory. The joint product will begin in 2017.